UK savers are not ready for fully automated pension customer support, new research from PensionBee has revealed.
A survey by the pension specialist found that 79% of respondents expressed preferences for a mix of human and AI interaction when managing their pension accounts.
Just over a third (34%) said they would prefer dealing mostly with humans, with AI acting as a support, while a further 34% expressed a preference for an equal mix of humans and AI working together. Just over one in six (16%) opted for entirely human support, while just 11% said they would be comfortable with AI taking the lead.
PensionBee said that overall, 82% of respondents expressed either a positive or neutral stance on AI-assisted pension support, while only 18% were opposed. However, it is largely seen as a useful tool to streamline customer service rather than a replacement for human expertise, the firm said.
Luis Mejia, vp of data at PensionBee, said: “Savers want the best of both worlds; faster service and round-the-clock availability but with the reassurance of human oversight. The challenge for pension providers is to ensure AI-driven services remain transparent, reliable and truly enhance the customer experience.”
The survey found transparency remains a key issue, with eight in 10 (79%) of those surveyed stating that it was important that AI tools used in pension support are transparent about how they make decisions, with 45% believing that full disclosure of AI-driven determinations is essential.
When asked about the main advantages of AI support, 34% of respondents cited 24/7 availability as the most compelling benefit, while 23% cited faster response times. Improved accuracy (14%) and the ability to handle repetitive tasks (16%) were also seen as key advantages. In contrast, 12% said they saw no benefits at all.
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